Also, who pays the tax stamps (seller or buyer) also varies from state to state.
Martin Joseph Realtors
Cell : 978-387-2400
Sigh... just another tax. It used to actually be stamps affixed when recorded... now just a fancy name for a 0.456% tax on real estate transactions. Seems like a low number, but you can see from the calculation below that it can be many thousands on a typical Quincy or MA home.
Wish I had some advice.. but you cannot sell without it. You should ask your Realtor and Atty why nobody mentioned it before. If you already sold.. you willl see it on your HUD.
I live in Quincy also and wish you the best!
The amount you pay for Massachusetts Tax Stamps will depend on how much you sold your home for. This will be on your HUD1 statement--do the math and make sure it's correct! Tax stamps in Mass. are calculated at $4.56 per thousand dollars of sale price. So if your house sold for $500,000, you (the Seller) will pay 4.56 x 500 = $2280 for Tax Stamps.
I'm surprised that you've gotten all the way to the closing table and haven't been told about Tax Stamps... The only good thing I can tell you is that it's worse here in New Hampshire. Here, the Buyer and Seller share the cost of Tax Stamps equally, currently $15.00 per thousand (each pays $7.50 per thousand at closing) Yikes!!